According to Zacks, “StealthGas Inc is a provider of international seaborne transportation services to LPG producers and users. The Company’s vessels carry various petroleum and petrochemical gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of oil and natural gas. These products are transported in liquefied form in order to reduce their volume and to facilitate their handling. Transportation by sea represents a major element of gas transportation logistics. LPG products have a variety of both industrial and other uses, including transportation, fertilizer production, the manufacture of plastics, space heating, cooking, water heating and process heating. We serve industrial companies, as well as national and independent energy companies and energy traders. “
Other equities analysts have also issued research reports about the company. Maxim Group reaffirmed a “buy” rating and issued a $5.50 price target on shares of StealthGas in a research note on Wednesday, March 27th. ValuEngine lowered StealthGas from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th.
StealthGas (NASDAQ:GASS) last announced its quarterly earnings results on Thursday, February 21st. The shipping company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.08). StealthGas had a negative net margin of 7.47% and a positive return on equity of 0.03%. The business had revenue of $34.02 million during the quarter, compared to analyst estimates of $35.61 million. As a group, equities analysts expect that StealthGas will post 0.17 earnings per share for the current year.
In other news, major shareholder Opportunities Fund L. Glendon acquired 422,065 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were purchased at an average price of $3.30 per share, for a total transaction of $1,392,814.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Glendon Capital Management Lp acquired 60,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was purchased at an average price of $3.37 per share, for a total transaction of $203,885.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 611,246 shares of company stock worth $2,013,337.
Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in shares of StealthGas in the 4th quarter valued at $41,000. Geode Capital Management LLC raised its holdings in shares of StealthGas by 71.5% in the 4th quarter. Geode Capital Management LLC now owns 29,544 shares of the shipping company’s stock valued at $81,000 after buying an additional 12,321 shares during the period. BlackRock Inc. purchased a new stake in shares of StealthGas in the 4th quarter valued at $592,000. Towerview LLC raised its holdings in shares of StealthGas by 34.7% in the 4th quarter. Towerview LLC now owns 485,000 shares of the shipping company’s stock valued at $1,339,000 after buying an additional 125,000 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of StealthGas by 1.9% in the 3rd quarter. Renaissance Technologies LLC now owns 1,922,000 shares of the shipping company’s stock valued at $6,842,000 after buying an additional 35,312 shares during the period. Hedge funds and other institutional investors own 60.39% of the company’s stock.
StealthGas Company Profile
StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also provides crude oil and product carriers chartered to oil producers, refiners, and commodities traders. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals.
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